Oil Country Tubular Goods (OCTG) Market 2021 Size, Share, Analysis, Demand, Growth Driver and Industry Segments by 2027

Oil Country Tubular Goods (OCTG) Market is valued at USD 47957.51 Million in 2018 and expected to reach USD 77110.10 Million by 2025 with the CAGR of 7.02% over the forecast period.

Oil Country Tubular Goods (OCTG) Market – Research Report Examines

Competitive companies and manufacturers in global market

By Product Type, Applications & Growth Factors

Industry Status and Outlook for Major Applications / End Users / Usage Area

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Oil Country Tubular Goods (OCTG) Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027 to Increasing demand for energy worldwide is driving the Oil Country Tubular Goods market

Oil Country Tubular Goods (OCTG) are defined as the tubes which are used in oil and gas production. These includes drill pipe, casing and tubing. OCTGs are used both onshore and offshore that is on the land and in ocean. Each wellbore processed in multiple phases during which drill pipe, casing and tubing are used alternatively.  The American Petroleum Institute (API) specifies standardized specifications that defines features of Oil Country Tubular Goods and classified in to 10 grades. These properties can be achieved through chemical composition of steel and subsequent heat treatment. Drill pipe is a heavy tube that rotates the drill bit and circulates drilling fluid. Casing pipe lines the borehole. It sustains axial tension by its dead weight, internal pressure by fluid purging and external pressure by surrounding rock formation. Tubing is to pipe through the bore to extract oil and gases from wellbore.

Global OCTG market is segmented in to type, area of application and region. On the basis of type the OCTG market is segmented in to drill pipe, casing and tubing. On the basis of area of application, the market is segmented in to onshore and offshore. On the basis of grade, the market is segmented in to premium and API.

The regions covered in this Oil Country Tubular Goods Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Oil Country Tubular Goods is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Oil Country Tubular Goods (OCTG) Market Revenue (USD Million) Analysis by Regional and Global, 2021-2027

Key Players for Global Oil Country Tubular Goods (OCTG) Market Reportsto

Some major key players for global Oil Country Tubular Goods market are Nippon Steel & Sumitomo Metal Corporation, Tenaris S. A, Vallourec, National-Oilwell Varco, Inc., ILJIN STEEL CO, TPCO Enterprise, Inc., TMK Ipsco Enterprises Inc., and others.

Increasing Demand for Energy Worldwide is Driving the Oil Country Tubular Goods Market

The ever-increasing energy demand is the reason for oil and gas exploration and production attractiveness. Due to increasing demand of oil extraction the market of oil country tubular goods is growing rapidly. For example, India is heavily reliant on crude oil and LNG imports with about 82.8% import dependence for crude oil and 45.3% for natural gas/LNG. The net foreign exchange outgo is 63.305 million US$ in the financial year 2017-18 in terms of crude oil imports. India produced 35.2 million tons of petroleum products from indigenous crude oil production whereas the consumption of petroleum products is 204.9 million tons. This statistic shows the oil requirement in India and subsequently the demand of Oil & gas which in turn propels the OCTG market. After recovery of oil price from 2014 collapse, the activity in oil & gas sector has strengthened. The oil & gas operator companies are increased their investment in developing countries like India due to huge available market. This intense competition between petroleum producers force them to drill new oil and gas bore which in turn increase the use of OCTG propelling the market further. The main restraining factor of OCTG market is high investment and lack of skilled labor. Technological development and innovative tools are creating opportunity for OCTG market.

North America is expected to dominate the Oil Country Tubular Goods (OCTG) Market

North America is dominating the OCTG market as it has advanced technical appliance and oil bore followed by Middle East. Latin America is the third largest OCTG market. As horizontal drilling in United States is in trend, the onshore rig count has become less. Rig or appliance efficiency is increasing in US due to technological advancement as number of wells a rig can drill is rising significantly. The OCTG market in North America is estimated to grow due to new well drilling and expanding producing well base. Horizontal drilling is also driving the demand of premium grades and connections. As for Asia pacific, due to huge demand of oil & gas by developing countries like India and China the competition in OCTG market is intense. China is more active for offshore oil bore which in turn enhances the demand of OCTG market. Within Asia Pacific, the rig count increased by 12%.

Key Benefits for Global Oil Country Tubular Goods (OCTG) Market Reports to

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Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.

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Oil Country Tubular Goods (OCTG) Market Segmentation

By Type

Drill Pipe

Casing

Tubing

Other

By Area of Application

Onshore

Offshore

By Grade

Premium

API

By Regional & Country Analysis

North America

U.S.

Canada

Europe

UK.

France

Germany

Italy

Asia Pacific

China

Japan

India

Southeast Asia

Latin America

Brazil

Mexico

Middle East and Africa

GCC

Africa

Rest of Middle East and Africa

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Table of Content
1 Study Coverage
1.1 Oil Country Tubular Goods (OCTG) Product
1.2 Key Market Segments in This Study
1.3 Key Manufacturers Covered
1.4 Market by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Executive Summary
2.1 Global Oil Country Tubular Goods (OCTG) Market Size
2.1.1 Global Oil Country Tubular Goods (OCTG) Revenue 2014-2025
2.1.2 Global Oil Country Tubular Goods (OCTG) Production 2014-2025
2.2 Oil Country Tubular Goods (OCTG) Growth Rate (CAGR) 2020-2025
2.3 Analysis of Competitive Landscape
2.3.1 Manufacturers Market Concentration Ratio
2.3.2 Key Oil Country Tubular Goods (OCTG) Manufacturers
2.3.2.1 Oil Country Tubular Goods (OCTG) Manufacturing Base Distribution, Headquarters
2.3.2.2 Manufacturers Oil Country Tubular Goods (OCTG) Product Offered
2.3.2.3 Date of Manufacturers Enter into Oil Country Tubular Goods (OCTG) Market
2.4 Key Trends for Oil Country Tubular Goods (OCTG) Markets & Products

3 Market Size by Manufacturers
3.1 Oil Country Tubular Goods (OCTG) Production by Manufacturers
3.1.1 Oil Country Tubular Goods (OCTG) Production by Manufacturers
3.1.2 Oil Country Tubular Goods (OCTG) Production Market Share by Manufacturers
3.2 Oil Country Tubular Goods (OCTG) Revenue by Manufacturers
3.2.1 Oil Country Tubular Goods (OCTG) Revenue by Manufacturers (2014-2020)
3.2.2 Oil Country Tubular Goods (OCTG) Revenue Share by Manufacturers (2014-2020)
3.3 Oil Country Tubular Goods (OCTG) Price by Manufacturers
3.4 Mergers & Acquisitions, Expansion Plans

4 Oil Country Tubular Goods (OCTG) Production by Regions
4.1 Global Oil Country Tubular Goods (OCTG) Production by Regions
4.1.1 Global Oil Country Tubular Goods (OCTG) Production Market Share by Regions
4.1.2 Global Oil Country Tubular Goods (OCTG) Revenue Market Share by Regions
4.2 North America
4.2.1 North America Oil Country Tubular Goods (OCTG) Production
4.2.2 North America Oil Country Tubular Goods (OCTG) Revenue
4.2.3 Key Players in North America
4.2.4 North America Oil Country Tubular Goods (OCTG) Import & Export
4.3 Europe
4.3.1 Europe Oil Country Tubular Goods (OCTG) Production
4.3.2 Europe Oil Country Tubular Goods (OCTG) Revenue
4.3.3 Key Players in Europe
4.3.4 Europe Oil Country Tubular Goods (OCTG) Import & Export
4.4 China
4.4.1 China Oil Country Tubular Goods (OCTG) Production
4.4.2 China Oil Country Tubular Goods (OCTG) Revenue
4.4.3 Key Players in China
4.4.4 China Oil Country Tubular Goods (OCTG) Import & Export
4.5 Japan
4.5.1 Japan Oil Country Tubular Goods (OCTG) Production
4.5.2 Japan Oil Country Tubular Goods (OCTG) Revenue
4.5.3 Key Players in Japan
4.5.4 Japan Oil Country Tubular Goods (OCTG) Import & Export

5 Oil Country Tubular Goods (OCTG) Consumption by Regions
5.1 Global Oil Country Tubular Goods (OCTG) Consumption by Regions
5.1.1 Global Oil Country Tubular Goods (OCTG) Consumption by Regions
5.1.2 Global Oil Country Tubular Goods (OCTG) Consumption Market Share by Regions
5.2 North America
5.2.1 North America Oil Country Tubular Goods (OCTG) Consumption by Application
5.2.2 North America Oil Country Tubular Goods (OCTG) Consumption by Countries
5.2.3 United States
5.2.4 Canada
5.2.5 Mexico
5.3 Europe
5.3.1 Europe Oil Country Tubular Goods (OCTG) Consumption by Application
5.3.2 Europe Oil Country Tubular Goods (OCTG) Consumption by Countries
5.3.3 Germany
5.3.4 France
5.3.5 UK
5.3.6 Italy
5.3.7 Russia
5.4 Asia Pacific
5.4.1 Asia Pacific Oil Country Tubular Goods (OCTG) Consumption by Application
5.4.2 Asia Pacific Oil Country Tubular Goods (OCTG) Consumption by Regions
5.4.3 China
5.4.4 Japan
5.4.5 South Korea
5.4.6 India
5.4.7 Australia
5.4.8 Indonesia
5.4.9 Thailand
5.4.10 Malaysia
5.4.11 Philippines
5.4.12 Vietnam
5.5 Central & South America
5.5.1 Central & South America Oil Country Tubular Goods (OCTG) Consumption by Application
5.5.2 Central & South America Oil Country Tubular Goods (OCTG) Consumption by Country
5.5.3 Brazil
5.6 Middle East and Africa
5.6.1 Middle East and Africa Oil Country Tubular Goods (OCTG) Consumption by Application
5.6.2 Middle East and Africa Oil Country Tubular Goods (OCTG) Consumption by Countries
5.6.3 Turkey
5.6.4 GCC Countries
5.6.5 Egypt
5.6.6 South Africa

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